Voestalpine is investing 1.5 billion euros to transition its steel production to electric arc furnaces (EAF), aiming to reduce emissions by 30 percent by 2029. The project replaces coal and coke with a mix of scrap and hot briquetted iron (HBI) to produce low-carbon steel. The company is navigating a complex trade environment where the EU's Carbon Border Adjustment Mechanism (CBAM) increases the cost of high-carbon imports, providing a competitive edge for green steel. However, these gains are partially offset by high tariffs on exports to the US market.
